New Delhi, Aug. 17 -- One97 Communications, the parent company of Paytm, informed investors through a regulatory filing on Monday that Resilient Asset Management, a company wholly owned by its founder and CEO Vijay Shekhar Sharma, proposed to sell up to a 4.98% stake in the company.

The proposed stake sale comes at a time when the stock hit a 54-month high last week amid multiple tailwinds, extending its rebound since March. The rally has resulted in gains of over 70%, making it one of the stock's biggest turnaround rallies since its listing.

Considering the stock's latest closing price of Rs.1,502 apiece, the proposed 4.98% stake sale is valued at around Rs.5,040 crore, according to Mint calculations.

(more to come)

Published by HT D...